Johnson & Johnson Reserve $600 Million of Second Quarter Earnings for Settlement

Posted By Blog Manager || 14-Jun-2012

The pharmaceutical giant Johnson & Johnson has set aside $600 million in anticipation of a possible settlement. The plaintiffs have alleged that Johnson & Johnson gave kickbacks to nursing homes that would purchase the Johnson & Johnson anti-psychotic medications, Risperdal and Invega as well as the respiratory drug Natrector. It is speculated that the $600 million is being used to finance a $2.2 billion dollar settlement.

This set aside of $600 million comes on the heels of various 2011 recalls. Johnson & Johnson has recently has recalled products ranging from contact lenses to hip replacements to even Tylenol.

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